Kshitij Dhamanikar

Lack of Privacy in DeFi Collateral Verification Current DeFi stablecoin systems require users to publicly disclose their collateral holdings and health factor to prove solvency. This exposes sensitive financial data and increases risks like front-running and targeted liquidations. 🔹 Solution: Our system leverages zkVerify and RiscZero to enable users to mint stablecoins while proving collateral sufficiency without revealing their health factor. By integrating zkVerify, we ensure privacy-preserving and trustless collateral verification using Zero-Knowledge Proofs (ZKPs). Trust Issues in Collateralization Most stablecoins rely on centralized oracles or custodians to verify collateral, creating points of failure and censorship risks. 🔹 Solution: We use zkVerify’s immutable proof storage, ensuring all collateral proofs are verified in a decentralized and trustless manner. High Gas Costs for On-Chain Collateral Verification Performing collateral health checks on-chain can be expensive, especially on Ethereum mainnet, limiting accessibility. 🔹 Solution: By deploying on Arbitrum, we reduce gas costs while maintaining security and efficiency. ZKP-based verification further optimizes computational overhead.

Secure Payment Escrow: The dApp holds payments in a smart contract escrow, ensuring funds are only released upon satisfactory completion of work, reducing the risk of fraud. Trust and Transparency: By automating the payment process through smart contracts, the platform builds trust between clients and freelancers, minimizing disputes. Integrated Crypto Swap Features: The platform allows seamless cryptocurrency exchanges, giving users the flexibility to transact in their preferred digital assets. Enhanced Utility: The combination of secure payments and integrated crypto swaps makes the platform versatile and appealing, catering to a wide range of freelancing needs.